5 Big Trade Signals After Yellen's Surprise Message

Here's a look at how to trade five of Wall Street's biggest stocks.

There are a lot of fundamental reasons why buoyant interest rates are a good thing for financial firms such as JPMorgan Chase (JPM), but none of those matter in the immediate term. Instead, it's the price action that's signaling a buying opportunity in shares right now.

JPMorgan is currently forming an ascending triangle pattern, a bullish price setup that's formed by horizontal resistance above shares at $59.50, and uptrending support to the downside. Basically, as JPM bounces in between those two technical price levels, shares are getting squeezed closer and closer to a breakout above resistance. When that $59.50 price tag gets taken out, we've got our buy signal.

Relative strength has been making higher lows in JPM since November. With the broad market showing indications of a correction forthcoming, that relative strength uptrend is an important confirmation of buying pressure in this stock. When the broad market is in corrective mode, relative strength (not to be confused with RSI) is the single most important indicator you can have in your technical toolbox.